@Brian Garrett - It sounds like you are misunderstanding the role of a buyer's agent and the function of the MLS. 

Or did I misunderstand your scenario and you only do multi-units when you can finance and LO on your existing SFR?  

Sorry for the misunderstanding.

@Anthony Ellison- sorry about the misunderstanding, I assumed you were wholesaling.

If I understood correctly, the suggestion was that only the revenue from lot rents should be included in NOI calculations.Am I misunderstanding something?

It was of course not their intention for me to misunderstand these things or misinform me, but they were aware of my resources, that it was my first purchase, and what my financial expectations were, etc., for the most part.

So it wasn't a misunderstanding then?

Now I may be misunderstanding your question because you may just be buying turnkey and not through a turnkey company. 

@Varun Parkash Unless I'm misunderstanding, you will not be saving $300 in P&I -- If you are refinancing 10 year arm @ 2.5%, your payment will increase substantially.

Put it in writing because you don’t want to lose a friend over a misunderstanding.